GreenPoint Partners, based in New York, recently expanded its European mobility logistics platform with a new UK car park portfolio, according to a press release. The new addition was acquired for over $324 million.
"We are excited to expand our European mobility logistics platform with such a high-quality portfolio of metro locations," Founder and CEO of GreenPoint, Chris Green, said. "Alongside our existing relationship with Infinium Logistics, we are building a portfolio of high quality mobility logistics assets that over time can also play an important role in the decarbonization of transportation."
In correlation with the transaction, GreenPoint has welcomed new investors Ivanhoé Cambridge and Greater Manchester Pension Fund (GMPF) to stand alongside its existing investor GCM Grosvenor.
The company plans to leverage its technology and operational capabilities to collaborate with NCP and enhance its service, introduce new electric vehicle infrastructure and implement technology-enabled services across the catalog. Through this strategic partnership, the firms aim to identify and carry out strategies to improve the overall user experience for customers while also driving long-term sustainable growth.
"We are excited to partner with the GreenPoint team to expand access to electric vehicle charging and mobility solutions across the UK," said Councillor Gerald Cooney, chair of Greater Manchester Pension Fund. "At GMPF, we are dedicated to being a long-term, responsible investor in businesses that have a positive impact for our members and communities, and we look forward to working with GreenPoint to deliver mobility and logistics solutions across the UK."
The investment is the third of its kind to stem from GreenPoint and Ivanhoé Cambridge’s collaboration, and the first within the firm's Real Estate Private Equity platform. It also follows GreenPoint's Real Estate PE platform launch in May 2022, which prioritizes decarbonization, advance fulfillment, delivery and parking solutions.
“GreenPoint has previously invested in and partnered with UK-based operator Infinium Logistics, to build out a portfolio of final mile logistics assets incorporating critical charging infrastructure across Europe,” a recent press release states.
"In a more challenging macroeconomic environment, the importance of innovative and reliable mobility and logistics-oriented solutions is essential for businesses, individuals and governments alike," said Alexander Çakir, partner and co-head of Real Estate at GreenPoint. "With our exceptional team, deep technology expertise and the support of a group of like-minded investment partners, we are well positioned to invest in improving these assets to create a market-leading UK parking and charging platform."